SurCalCh2Sec3 - In other words marginal cost is the...

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Derivative Rules: ) ( x f ) ( ' x f c 0 x 1 n x 1 n nx c ) ) ( x f c ( ' x f [] ) ( ) ( x g x f ± ) ( ' ) ( ' x g x f ± #2 #12 #14 #26 Definition— Let C total cost of producing x units, R(x)= total revenue from selling x units, P(x)=total profit from producing and selling x units. = ) ( x Marginal Cost is the additional cost of producing one more unit or the rate at which costs are rising.
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Unformatted text preview: In other words marginal cost is the derivative of the cost function. . Similary, marginal revenue MR(x) is the derivative of the revenue function, , and marginal profit, MP(x) is the derivative of the profit function , MP(x)=P’(x). ) ( ' ) ( x C x MC = ) ( ' ) x R = ( x MR #34 #38...
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